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A55326 England and East-India inconsistent in their manufactures being an answer to a treatise intituled, An essay on the East-India trade by the author of, The essay of wayes and means. Pollexfen, John, b. ca. 1638. 1697 (1697) Wing P2779; ESTC R23303 24,404 64

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into Europe from Africa and America from whence only any quantity of Gold and Silver comes since the Year 1656 much above 2 Millions per Annum and it cannot well be imagined that we have got all to our shares But if the Author had spent more thoughts and study to have found out where the 64 Millions he mentions to be gotten are now to be found would have done the Nation a great kindness at this time In justification of what hath been said that we lose by the East-India Trade as it hath of late Years been managed these particulars are offered 1. That it appears by the Custom-House Books that there was Enter'd in the Companies Name Shipt out from Anno 1675 to Anno 1685 above 4 Millions which is above 400000 l. per Annum And though it be difficult to make out exactly what was carried out those Years by Interlopers or particular Persons from England and Spain to carry on Private Trade yet it may be computed at 200000 l. per Annum 2. Of the Goods brought from India and Exported it doth not appear by such Observations and Estimates that have been made that 200000 l. worth per Annum were ever Exported to Spain or any Country from whence we usually Import Bullion 3. That from France Holland Turky Italy no returns usually come in Bullion what being brought in from Holland against any Sale usually going out again by the Course of Trade seldom stayes long because it is not supposed the ballance of that Trade hath for many years stood long in our favour nor till we apply our selves more to good Husbandry in the Consumption of Foreign Commodities can well be expected ever will 4. That no rational account can be given of any Gold and Silver imported into this Kingdom to continue here but what comes from Africa Spain and formerly Portugal and some small Parcels sometimes from Jamaica and that from all those places we seldom have imported according to the best Calculations above 600000 l. communibus annis for 30 years last past and if â…“ of that be allowed to be for East-India Goods it is the most that can well be reckoned and that whatever we have Exported more in Bullion annually hath been lost by that Trade for what comes back in Goods to be consumed here makes us no amends for the Treasure Exported and Trades that cannot be ballanced with our own Products ought to be rectified some other way and not by sending our Money to India to buy Goods for that purpose Till these Objections be removed we must be very credulous if we believe that the India Goods Exported bring us back as much Treasure as that Trade carries from us in Bullion and if not brought in by the Goods sold abroad cannot possibly be brought in by the other half of those Goods spent at home But to salve that it is argued in this Treatise that nothing can be a clearer Gain than 600000 l. per Annum by the Goods spent at home because so much would otherwayes have been Exported to purchase Foreign Silks and Linnens But this Argument will appear to have no ground if our Course of Trade in Silks and Linnens from the European Nations be look't into and how and for what uses those Silks and Linnens and these from India are consumed that will make it plainly appear that these Goods from India do us no such Service and are so far from being a clear gains upon any such Account that do not save us any thing material but are pernicious in the highest degree It is well known by all Traders that the Silks imported from France were most Lustrings and Alamodes which have been computed to amount to 400000 l. per Annum what other Silks came thence were esteemed for their being of some new fashion and were usually high prized Rich Silks The promoting of the Lustring Company to Manufacture Lustrings and Alamodes here and incouragement to our Weavers to make such Rich Silks may prevent their coming from France but which sort of these Silks from India are spent in the room of Alamodes or Lustrings or of any other Silks that did usually come from France is unknown to those skilled in that Trade The Silks that usually came from Holland were Velvets Alamodes and Lustrings and from Italy Velvets Damasks and Taffaties though it be not doubted but the Silks from India do hinder the Consumption of some Damasks Taffaties and Sarsenets yet being those were all or most purchased by the Products of our Manufactures we had better have them then send our Money to the Indies to purchase these Diaper Dowlas Canvas and Lockrams which were four sorts of Cloth that composed the vast quantity of Linnens formerly imported from France which as well as other Linnens taken from Hamburgh Germany c. were most used for Sheeting Shifting Tabling and such other uses in Families as have not hitherto nor is it likely will ever be supplyed by these Linnens from India The Muzlings and fine Linnens from India it may be observ'd are consumed for long Cravats Nightrails Commodes and Window Curtains an Expence not known in England till within these 20 years also for Aprons and thus do hinder the Consumption of Cambricks and Lawnes and the course Callicoes of some course Cloaths But if Cambricks and Lawnes and most of such course Linnens were all purchased with our Woollen Manufactures then we shall find reason to conclude we did ill to introduce the Expence of these Linnens from India which are so far from being a clear gain to England as asserted Page the 16 that they are costly and mischievous upon several Considerations As it doth not appear upon these Examinations that the East-India Trade is beneficial by bringing in more Bullion than carries out or by hindring the Exportation of any of our Coin for Silks or Linnens so it may be affirmed that the Silks do us a further Mischief by being spent directly in the room of our Stuffs made of Wooll Hair and mixt with Silk and Worsted and that no other silk made abroad did ever serve for those uses and therefore most dangerous The Arguments derived from the great Gains made by that Trade as by several Accompts in that Tract ought to be lookt on as blinds or baites for unthinking men for if the accompts be not true then the Arguments grounded thereon cannot be good It is well known the Company doth not export the Goods they bring but sell them at a publick Sale and that in the most flourishing times seldom got clear 50 per C. by such Sales the Merchants or Shop-keepers who buy of them get 10 to 20 per C. more either by sending abroad or retailing them here adding to this what is paid for Customs and Charges yet all will fall much short of this Computation and that part which is thus gotten by Sales at home is gotten by their being a Monopoly and cannot be reckoned as gains to the Nation and taking